The Canadian dollar declined for a third day versus its U.S. peer amid speculation the Federal Reserve may indicate when it will begin slowing monetary stimulus in the U.S., the nation’s largest trading partner.
Global regulators may start overseeing currency rates in a widening response to benchmark- rate setting scandals that began with revelations on the manipulation of Libor, two people familiar with the matter said.
Brazil’s real posted the biggest decline in emerging markets after the government’s interventions this week failed to staunch capital outflows triggered by faltering economic growth and a jump in U.S. bond yields.
Britain should investigate the manipulation of currency rates, European Union officials said after Bloomberg News revealed that traders have been rigging foreign-exchange benchmarks for more than a decade.
Japanese hedge funds investing in smaller companies are outperforming as trading in small-cap stocks more than doubled this year amid Prime Minister Shinzo Abe’s efforts to revive the world’s third-largest economy.
ICAP Plc, the world’s largest broker of transactions between banks, said Treasury-trading volume rose 58 percent in May to the most in almost six years amid bets the Federal Reserve will begin tapering its bond-purchase program.